McDonalds helps it's employees budget! (Irony)

[Mr Bean]

So McDonalds put together a website to help it's employee's manage their money. Part of that website is a budget tool, lets just call it the McBudget. There are two things I want to show you.
Here is the first the sample McBudget they list on the webpage.


The second thing is this handy Youtube video only a minute and twenty seconds in length which explains how what's wrong with that sample budget.
Give it a watch

Last is the website in question. Taking bets on how long it stays up.

[Flagg]

If you need a video to see what's wrong with that you might be a fucking bonobo. A goddamned monkey. For reals.

[hunter5]

Hmm so helping people to set up budgets is not helpful? Could it have been done better yes, but I fail to see how this is a bad thing in the long run.

[Zaune]

If you need a video to see what's wrong with that you might be a fucking bonobo. A goddamned monkey. For reals.

Or not from the US. I mean, maybe there are parts of the country where $600 a month is a reasonable market rent; I wouldn't know.

[hunter5]

If you need a video to see what's wrong with that you might be a fucking bonobo. A goddamned monkey. For reals.

Or not from the US. I mean, maybe there are parts of the country where $600 a month is a reasonable market rent; I wouldn't know.

I have lived in places in North and South Carolina were the rent was as low as 400 dollars a month. Minor nitpick with the video is they point out that heat is zero but ignore the electric bill is 90. All the places I have lived the heat was part of the electric bill so seem I fail to see how having a zero heating bill is a bad thing.

[Mr Bean]

Hmm so helping people to set up budgets is not helpful? Could it have been done better yes, but I fail to see how this is a bad thing in the long run.

The helpfulness comes from the assumption that in order to make ends meet any McDonalds employee is to be expected to put in 80 hours per week.
But again watch the video that's a minute twenty you won't regret spending watching a video.

Minor nitpick with the video is they point out that heat is zero but ignore the electric bill is 90. All the places I have lived the heat was part of the electric bill so seem I fail to see how having a zero heating bill is a bad thing.

Most places I've been to where electric is part of the heat are either higher end (IE all electric) or very low end (IE no central heat)

[hunter5]

Hmm so helping people to set up budgets is not helpful? Could it have been done better yes, but I fail to see how this is a bad thing in the long run.

The helpfulness comes from the assumption that in order to make ends meet any McDonalds employee is to be expected to put in 80 hours per week.
But again watch the video that's a minute twenty you won't regret spending watching a video.

Minor nitpick with the video is they point out that heat is zero but ignore the electric bill is 90. All the places I have lived the heat was part of the electric bill so seem I fail to see how having a zero heating bill is a bad thing.

Most places I've been to where electric is part of the heat are either higher end (IE all electric) or very low end (IE no central heat)

Oh I did watch the video and I looked at the site I got less of an impression that this was less a complete guide on how to make ends met and more a simple how to write a budget guide. Like I said all the places I have lived at have had heat as part of the electric bill and I have had an electric bill around 100 dollars a month so I really don't see the problem.

[Grandmaster Jogurt]

A budget that doesn't even include food, let alone all the other missing expenses, is not an even incomplete guide on how to budget. It's worse than not trying to show anything at all.

[Losonti Tokash]

I'd like to know where the hell you get health insurance that's $20 a month.

[Esquire]

A budget that doesn't even include food, let alone all the other missing expenses, is not an even incomplete guide on how to budget. It's worse than not trying to show anything at all.

It's not a budget that doesn't include food, it's a budget that doesn't include food as a specific fixed-cost line item. This is an t entirely different thing, and not an unreasonable one - my monthly food budget varies by as much as $200 between months, so folding it into discretionary spending isn't a bad idea.

The real problem is the fact that the given monthly income value works out to $15 an hour for a 40-hour week, not that the example budget does not include an exhaustive list of every possible cost.

[Block]

My guess is it's meant to be a dual income household budget.

[Grandmaster Jogurt]

It's not a budget that doesn't include food, it's a budget that doesn't include food as a specific fixed-cost line item. This is an t entirely different thing, and not an unreasonable one - my monthly food budget varies by as much as $200 between months, so folding it into discretionary spending isn't a bad idea.

The real problem is the fact that the given monthly income value works out to $15 an hour for a 40-hour week, not that the example budget does not include an exhaustive list of every possible cost.

Labeling it as "spending" money is pretty disingenuous then, if it's largely earmarked for vital necessities. And the $15 an hour thing probably isn't what they meant at all. They already admit you're working two jobs here; they're probably assuming you're working 39 hours per week in each of your two jobs.

[Esquire]

I don't disagree, but there's really no better place to put it. An average monthly food budget wouldn't accomplish much, since it can vary so much. A single guy might have one month where he ate only pancakes and potatoes for a total cost of $100*, and another month with multiple dates where he spent five times that. My point is, McDonalds appears to be doing a good thing here (and that hurts to say) by trying to help their employees manage their money.

*Pulled more or less out of my ass; the weekly food run for my family of four growing up was about $100.

[Jub]

The two jobs thing is a bit off putting, but honestly the rest is fine for a simple example budget designed for people that likely don't budget at all.

I can show you how it breaks down for me and why it's not the worst thing ever.

Income 1st Job: $1,348 (Net)
Income 2nd Job: $0
Other Income: $0

Savings: $100
Mortgage/rent: $650
Car Payment: $60 (Bus pass)
Insurance: $0 (Should invest in renters insurance)
Health Insurance: $0 (Canadian Medical Service Plan is free if you earn under a certain amount yearly)
Heating: $0 (Utilities included in my suite)
Cable/Internet/Phone: $115
Electric: $0
Other: $150 (Debt payments)

Monthly Expenses Total: $1,075

Monthly Spending Money: $273

Money per Day: $9

Now if I wasn't working a shit job while waiting to go on a 7 month vacation I'd be far better off, but as it is I can survive well enough and that budget is good as a rough guide.

[Surlethe]

I'd like to know where the hell you get health insurance that's $20 a month.

Medicaid.

[Grandmaster Jogurt]

I'd like to know where the hell you get health insurance that's $20 a month.

Medicaid.

Depends on the state you're in. The batch of Republicans voted in in 2010 up here made it so there's literally no way to actually get on there unless you're under 21 or a single mother with dependents (the waiting list has been indefinitely frozen). Even complete lack of income doesn't cut it.

[Grandmaster Jogurt]

It occurs to me now that your post was more "if you can get it, it could be that cheap" rather than "it'll be that cheap and you can get it", so never mind, my point kind of went off the mark there :L

[fgalkin2]

If you need a video to see what's wrong with that you might be a fucking bonobo. A goddamned monkey. For reals.

Or not from the US. I mean, maybe there are parts of the country where $600 a month is a reasonable market rent; I wouldn't know.

You can rent for $600 a month, even in NYC. It will likely be a room in a shared apartment somewhere in the Bronx, but it is possible.

Have a very nice day.
-fgalkin

[His Divine Shadow]

If you need a video to see what's wrong with that you might be a fucking bonobo. A goddamned monkey. For reals.

Or not from the US. I mean, maybe there are parts of the country where $600 a month is a reasonable market rent; I wouldn't know.

You can get an apartment for under 500 euros a month, depending on how low you're willing to go wrt quality and size you can go down to 300 or so. Out farther from the city you can rent bigger places for 4-500.

[Jub]

It should also be pointed out that, on average, US minimum wage is pathetic. I mean, the $10.25/hour wage in BC is hard to live on in some places but getting 40 hours a week earns you roughly $1,400/month. That's pretty close to a wage you'd get working two crap jobs in the US and cost of living isn't that different over all.

[Broomstick]

As it happens, my rent is under $600/month and utilities are included... but I'll be the first to admit it's a steal of a deal. Average rents in my area are $750+ and utilities are extra.

You CAN budget for food, particularly if you do a lot of your own cooking. Mine runs around $450/month for two people but if I had to I could cut it further. Consider, though, that many restaurants either let employees eat free or at reduced cost. Presumably, McDonald's employees can get food at work...? Not take out, but eat on their breaks.

I agree, though, that the budget is laughable in several ways, not the least of which is the inclusion of a second job as a necessity.

[Terralthra]

I assumed when I saw the second job line that it was a family budget, and thus included room for two jobs.

[Broomstick]

Certainly a possibility.

[Mr Bean]

Certainly a possibility.

Except it says explicitly "2nd Job" not "Second Income". Further the first job is just about right for a 40 hour minimum wage job after taxes. The second job close to it.

Second this is not a family income planner because the expenses would be much higher in some areas lower in others.

[Simon_Jester]

If you need a video to see what's wrong with that you might be a fucking bonobo. A goddamned monkey. For reals.

Or not from the US. I mean, maybe there are parts of the country where $600 a month is a reasonable market rent; I wouldn't know.

This time two years ago, I was renting a room in a fairly decent suburb of Washington, D.C. for $575 a month. Utilities included. To be fair, it was literally a room, with shared bathroom access with the other three tenants on the floor, and a family living downstairs that sublet their house. But it wasn't a bad place to live, for a graduate student bachelor or someone with similar expectations.

I assume the other tenants were paying roughly the same, and the owners worked at least 1.5 jobs between the two of them, so I'm pretty sure that covered the mortgage nicely.

Hmm so helping people to set up budgets is not helpful? Could it have been done better yes, but I fail to see how this is a bad thing in the long run.

The helpfulness comes from the assumption that in order to make ends meet any McDonalds employee is to be expected to put in 80 hours per week.

Now THAT is rich. Really rich... hah.

Minor nitpick with the video is they point out that heat is zero but ignore the electric bill is 90. All the places I have lived the heat was part of the electric bill so seem I fail to see how having a zero heating bill is a bad thing.

Most places I've been to where electric is part of the heat are either higher end (IE all electric) or very low end (IE no central heat)

Where I live right now, gas and electric are billed separately, and the heater runs on natural gas.